On one hand, US companies face convergence between US GAAP and IFRS, affecting several major accounting standards - most notably in the areas of leasing, revenue recognition, and financial instruments. On the other hand, IFRS conversion warrants consideration. IFRS is already impacting business decisions, and not simply through non-US subsidiaries. Understanding both of these major changes, and their business and operational implications, is essential.
How PwC can help
Our professionals are monitoring the situation in the United States and can advise your company how to proceed if you have cross-border issues surrounding IFRS conversion. Contact one of our professionals today to get answers to your questions around this subject.